Tag: mathematical
Game Theory
What is 'Game Theory' Game theory is the study of human conflict and cooperation within a competitive situation. In some respects, game...
What is the Pareto Principle?
Definition
The Pareto principle states that, for many events, roughly 80% of the effects come from 20% of the causes. Management consultant Joseph M. Juran...
A Priori Probability
What is 'A Priori Probability' A priori probability is a probability calculated by logically examining existing information. A priori probability can most...